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2013 (9) TMI 1107 - HC - Income TaxAdditions of unsecured loan, share capital and share application money - Held that:- It is not the case of the revenue that these persons are entry providers and there was any other material or doubt that these were bogus entries routed through fictitious or name lenders. Assessing officer did not conduct any investigation by sending Inspector to the addresses and nothing has been brought on record to show steps or attempt by the assessing officer to go deeper and find out/check veracity of the assertion. The share application money addition is not in isolation but has to be examined with other additions on similar grounds. Absence of verification, different additions made and reasoning given for deleting the additions are plausible.
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